Finepoint Capital LP Sells 3,315,292 Shares of QXO, Inc. $QXO

Finepoint Capital LP trimmed its position in QXO, Inc. (NYSE:QXO) by 13.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,152,868 shares of the company’s stock after selling 3,315,292 shares during the quarter. QXO comprises approximately 33.6% of Finepoint Capital LP’s holdings, making the stock its largest position. Finepoint Capital LP’s holdings in QXO were worth $455,633,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of QXO. Vanguard Group Inc. raised its holdings in QXO by 91.0% in the 2nd quarter. Vanguard Group Inc. now owns 47,192,412 shares of the company’s stock worth $1,016,525,000 after acquiring an additional 22,484,977 shares during the period. Blue Investment Opportunities LLC Project Breeze Series 1 acquired a new stake in shares of QXO in the first quarter valued at about $118,142,000. Geode Capital Management LLC increased its stake in shares of QXO by 218.4% in the second quarter. Geode Capital Management LLC now owns 8,246,989 shares of the company’s stock worth $177,670,000 after purchasing an additional 5,656,452 shares during the period. Bank of New York Mellon Corp lifted its position in shares of QXO by 617.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,277,975 shares of the company’s stock worth $70,608,000 after purchasing an additional 2,821,241 shares during the last quarter. Finally, Catawba River Capital lifted its position in shares of QXO by 127.8% during the 2nd quarter. Catawba River Capital now owns 1,116,119 shares of the company’s stock worth $24,041,000 after purchasing an additional 626,067 shares during the last quarter. 58.68% of the stock is owned by institutional investors.

QXO Trading Up 2.5%

Shares of QXO stock opened at $18.72 on Friday. QXO, Inc. has a 52-week low of $11.85 and a 52-week high of $24.69. The stock has a market cap of $12.62 billion, a price-to-earnings ratio of -89.14, a P/E/G ratio of 2.58 and a beta of 2.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.15 and a current ratio of 3.00. The firm has a fifty day moving average of $18.36 and a 200-day moving average of $19.55.

QXO (NYSE:QXO) last issued its earnings results on Thursday, November 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.78 billion. QXO had a negative net margin of 1.09% and a positive return on equity of 2.15%. QXO’s revenue for the quarter was up 20726.7% on a year-over-year basis. On average, equities research analysts forecast that QXO, Inc. will post -0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

QXO has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of QXO in a report on Wednesday, November 19th. Zacks Research cut shares of QXO from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Vertical Research initiated coverage on shares of QXO in a report on Tuesday, October 21st. They issued a “buy” rating and a $30.00 price target for the company. Wells Fargo & Company began coverage on shares of QXO in a report on Tuesday, August 5th. They set an “overweight” rating and a $30.00 price objective on the stock. Finally, Benchmark upgraded shares of QXO to a “strong-buy” rating in a research note on Monday, August 25th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.85.

QXO Company Profile

QXO, Inc operates as a business application, technology, and consulting company in North America. The company provides solutions for accounting and business management, financial reporting, enterprise resource planning, human capital management, warehouse management systems, customer relationship management, and business intelligence.